Gold Resistance at 1670

by
Jamie Saettele

Weekly Bars

Prepared by Jamie Saettele, CMT

Bigger picture, the rally and decline from the December low may compose the base that propels gold to all-time highs. When viewed in the proper context, price action since September appears as nothing more than consolidation within a secular bull market. Still, resistance is 1670/85 and a drop below last week’s low should trigger losses towards 1600.

Bottom Line (next 5 days) – ?

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